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RIM participates in winning bid for Nortel's patent portfolio

By Bla1ze on 1 Jul 2011 12:36 am EDT
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RIM

If you've been following along with the Nortel patent auction news then you'll no doubt know that the over 6,000 patents and applications attracted a high level of interest across the technology world and as such, were placed on hold for a while. Having resumed on June 27, RIM has issued the following press release regarding their involvement in that high profile auction which also included the likes of Apple, EMC, Ericsson, Microsoft, and Sony.

Press Release

WATERLOO, ONTARIO--(Marketwire - July 1, 2011) - As announced separately today by Nortel Networks Corporation, a consortium of certain technology companies, of which Research In Motion Limited ("RIM") (NASDAQ:RIMM)(TSX:RIM) is a part, emerged as the winning bidder for all of Nortel's remaining patents and patent applications for a cash purchase price of USD$4.5 billion. RIM's portion of the purchase consideration is approximately USD$770 million. The sale is subject to applicable Canadian and United States court approvals. Nortel plans to work diligently with the consortium to close the sale in the third quarter of 2011.

This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws relating to a consortium of technology companies emerging as the winning bidder for Nortel's patent portfolio, required approvals and the anticipated closing date. Forward-looking statements are based on estimates and assumptions made by RIM in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that RIM believes are appropriate in the circumstances, including, RIM's perception of the parties' ability to obtain required approvals, and its views with respect to the anticipated closing date. Many factors could cause the actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation; risks related to the parties' ability to obtain the court approvals on a timely basis or at all; and risks of delays to the completion of the transaction. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements contained in this news release. RIM has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Source: Marketwire

Reader comments

RIM participates in winning bid for Nortel's patent portfolio

25 Comments

They put in the news about RIM and Apple having the Kodak ruling overturned.

As much as the kiddies here love to bag BGR, there's the same comments being made about Engadgets coverage of the Lettergate Scandal.

Seems Blackberry fanatics are like all other fanatics. Crazy.

That post does nothing to take away from the several other dozens that are clearly written in a negative tone, some likely with little truth to them.

those moron's at BGR will never post this. They only post negative RIM news. That site is a farce and a joke. Im begging to wonder if half the stuff they write is made up.

This is one thing I didn't think RIM would win. I'm happy to see it though. I thought google was going to throw heaps of money in for this.

Great move by RIM, Apple, EMC, Ericsson, Microsoft, and Sony to come together to make it happen....Now RIM just needs to start putting all these companies and patents they collecting to work

It's good news for RIM to get in on the action. And a consortium is almost better to avoid any problems with the US DOJ that is not liking the uptick in patent lawsuits. But it is a little sad that RIM almost had all of Nortel's patents before they declared bankruptcy.

Can't believe this stuff can be bought. If a company goes bankrupt etc etc they should relinquish all patents and should be free to used by anyone.

The american patent system is ridiculous..

so those involved like apple, microsoft, sony are part of the consortium? Why would microsoft be part of it. don't they already have permission to use all of nortels stuff?

or is there something else in these patents that microsoft would like to leverage that isn't in the windows phone agreements etc.

anyways, I don't mind google but its odd to see them out of contention. There must have been a valid reason why a company like google was exempt from this consortium (or not even asked) or why google with all their resources didn't outbid. I hate to see all these patents used to "leverage" against other companies. I guess that 4.5 billion+ could be used for better things :P

For rim, i guess its important but it's a lot of cash to throw around for patents.

lol, seriously dude? how would it be fair to relinquish all patents? there are still stakeholders involved in this.. debt holder, shareholders, etc.

and i don't know about micrsoft being able to use the patents.. but dont you think that if there were new owners out there and microsoft wasn't part of it, that microsoft would have to stop using the patents or start paying royalties?

Here is an example of a person who thinks RIM is comprised of Blackberry Phones and NOTHING else. Just silly.

That is like saying BP is ONLY in the oil business.

Nice announcement for Canada Day. Not sure all the details but nice news no doubt.

As for BGR. They recently had an article about how the Verizon iPhone sales were slowing down and making zero mention of the fact that a new iphone could be just around the corner even though there sites write about the iphone 5.

Selective reporting at its finest. Guess they are striving to be like mainstream news organizations.

I do not get the feeling that Apple, EMC, Ericsson, Microsoft, and Sony are part of that consortium from the press release. The First part mentions theses companies as being part of the companies bidding for the patents and not necessarily part of the consortium.

Just read another article mentioning they are part of it. So forget what i said.

This deal also shows that despite the criticism, Mr. Lazaridis and Mr. Balsillie are able to put RIM into a competitive stance in the market. Working with competitors in order to secure these patents is no easy feat. Google and their manufacturing partners are going to be facing some steep licensing fees in the next couple years.

This is a great piece of news, but the question remains- now what?

Not sure if this was already said, however part of the frustration, if not all of the frustration that many RIM fans like myself are complaining about is not about RIM's lack of technology or acquisition of that technology but what appears to be RIM's inability to implement this technology as quickly and effectively as their competitors.

It's not that RIM cannot compete, but in a way refuses to acknowledge the fact that they must compete. If you read through the open letter to RIM from that employee (i believe there are few letters now) The overall theme of the letter is sincere request to the RIM leadership to open their eyes and get back on the ball. The Nortel patent acquisition seems like a great deal, however now what?